Proposing a balanced budget amendment to the Constitution of the United States.
If adopted, this amendment could significantly alter the way the federal government handles its finances and budgeting process. It would necessitate a more stringent approach to federal spending, potentially limiting the government's ability to raise expenditures during times of economic downturns or emergencies unless congressional approval is secured. This could lead to reduced fiscal flexibility for future administrations, impacting social and economic programs that rely on federal funding.
HJR15 proposes a balanced budget amendment to the Constitution of the United States. This resolution seeks to ensure that total outlays for any fiscal year do not exceed total receipts, creating a framework that requires federal budgeting to be balanced, except under certain conditions. Specifically, it states that an excess of outlays over receipts can occur only if two-thirds of both Houses of Congress approve it by a rollcall vote.
There are notable points of contention surrounding HJR15, particularly regarding its implications for fiscal policy. Proponents argue that a balanced budget amendment will enforce fiscal discipline and prevent government overspending, while critics contend that it could hinder the government's ability to respond to economic crises. Opponents worry that this amendment might prioritize budget balance over essential services and investments, thereby adversely affecting public welfare and economic growth.